Bob Leaves Home

Last fall, Bob Nardelli told a news reporter that 10 years down the road, he still expected to be "selling hammers." That may prove to be true -- he just won't be selling them at Home Depot.

The home-improvement behemoth announced this morning that Mr. Nardelli had resigned as its chairman and chief executive officer, effective immediately. Mr. Nardelli, who took the top roost at Home Depot in 2000 after being passed over to succeed Jack Welch at General Electric, had become a punching bag for investors angered...